CL Redux

See f it bounces off the 20 EMA. I'm L 104.10.

Put a tight stop on that one and stopped out at 104.00. Now it goes to 108. :D
 
Quote from Totalizator:

continue to short OIL. yes it is against the well defined trend... I am holding all my shorts.. not adding just yet but holding..

no doji.. nice call actually on the buy after the sell off yesterday afternoon.

The trend is your friend afterall
More...

I really think this is crazy, I was short until Monday and I switched but there were Saudi protests today, and the big one isn't planned until next Friday. If it commences next Friday and they are large protests, oil will skyrocket. Further, resistance at 103.81 was crossed. But I'm not a psychic
 
Was long earlier at 104.12 and added on that dip and now checked out with a small profit. Not sure where this heads next. Take a break. :)
 
for today OIL bulls out weight bears by wide margin.
I am surprised we did not see temporary retrace to 103 in last 3 hours

bull factors
--------------
- weekend premium effect when OPEC member states are in trouble ( few wanted to hold shorts over week end , so less short holders by EOD )
- USD down , EURO up
- Gold UP ( indication of flee to safer investments )
- good job report with declining unemployment numbers ( more people drive )



bear factors
---------------
- price ran up too high too fast
 
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